MMT Corporation reports the following income statement items ($ in millions) for the year ended December 31, 2024: sales revenue, $2,190; cost of goods sold, $1,420; selling expense, $205; general and administrative expense, $195; interest expense, $65; and gain on sale of investments, $115. Income tax expense has not yet been recorded. The income tax rate is 25%. Required: Prepare a multiple-step income statement. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). MMT CORPORATION Income Statement For the Year Ended December 31, 2024 Sales revenue Gain on sale of investments Gross profit $ 2,190 115 2,305 Operating expenses: Cost of goods sold $ General and administrative expenses 1,420 195 Selling expense 205 Interest expense 65 Total operating expenses 1,885 Operating income Other income (expense): Total other income, net Income before income taxes Net income